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AC Grid Connected Microgrid Market Trends

Report ID: GMI10979
Published Date: Aug 2024
Report Format: PDF

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AC Grid Connected Microgrid Market Trends

Increasing technological advancements in energy storage, power electronics, and control systems to make the microgrid system more cost-effective and efficient will uplift the product adoption. Rising demand for independent energy providing systems, especially during emergencies, ensuring continuous power supply to critical facilities such as hospitals, data centers, and military bases will complement the product demand.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of AC grid connected microgrid was worth over USD 6.9 billion in 2023 and will expand at 19.9% CAGR between 2024 and 2032, owing to the increasing need for reliable and resilient power systems, and advancements in smart grid technology.

AC grid connected microgrid market from the industrial/commercial segment will achieve 22.5% CAGR through 2032, fueled by high energy demand and the need for reliable, uninterrupted power supply.

Asia Pacific AC grid connected microgrid industry will exceed USD 20.4 billion by 2032, due to rapid industrialization, growing energy demand, and increased investments in renewable energy projects.

Key players operating in the AC grid connected microgrid market are Caterpillar Inc., Eaton, Emerson, General Electric, Piller Power Systems, PG&E, PowerSecure, Saft, Schneider Electric SE, Stellar Energy, Siemens AG, and Victron Energy B.V., among others.